Scoop has an Ethical Paywall
Nelson Forests’ acquisition of Manuka Island estate
Nelson Forests’ acquisition of Manuka Island estate confirmed by Overseas Investment Office
5 February
2019
OneFortyOne (OFO) has received confirmation that the
Overseas Investment Office has approved Nelson Forests’
acquisition of Manuka Island estate in New Zealand. The
completion date for the purchase will be mid-late February.
The Manuka Island estate, currently owned by Merrill and Ring, is approximately 2000 hectares of forest in the Wairau Valley near Blenheim.
“The Manuka Island acquisition reflects our intention to continue to invest in the regions where we have an established presence. The acquisition complements our recent purchase of Nelson Forests and is a great fit for their estate,” says OFO’s Chief Executive Officer, Linda Sewell.
“Manuka Island will be a natural extension of our existing operation,” says Lees Seymour, Managing Director of Nelson Forests. “We are excited about the employment and regional economic development opportunities that the purchase will provide for Marlborough, in addition to our strong presence at Kaituna sawmill and through our forest activities in the region.”
ENDS
Priority one: Regional Deal Strengthens Confidence In The Western Bay Of Plenty
REINZ: Buyer Activity Softens As Living Costs Remain A Consideration Across Key Regions
Better Taxes for a Better Future: Tax Policy Welcome Contribution, But Missed Opportunity To Tackle Wealth Inequality
Google Threat Intelligence Group - GTIG: Google Threat Report Warns AI-Driven Cyber Operations Are Scaling Across Global Threat Landscape
Commerce Commission: Baseline Research Report On The State Of Competition In New Zealand
University of Auckland: Junk Food Designed To Make Us Eat More, Study Finds
